Boustead Plantations is eyeing for a rebound above the 21-day average line as it rose higher and attempted to move past the MYR1.08 resistance yesterday – supported by stronger trading volume. If a breakout above that level happens, the stock may propel further towards the next resistance set at MYR1.19, followed by MYR1.25, its all-time high. If it falls below the psychological support of MYR1.00 – forming a “lower low” bearish pattern – the stock may trend downwards.

Source: RHB Securities Research - 25 May 2022